Oil prices head into 2020 with renewed optimism

Abu Dhabi: After a year of volatility in the oil market, prices are heading into 2020 with a sense of optimism, with oil markets closing on a fourth straight weekly high on Friday. Brent was trading at $68.16 with West Texas Intermediate (WTI) on $61.72, as oil prices continued to the ride the momentum of […]

Tough 2020 awaits Amazon and Flipcart in India

New Delhi: With more and more Indians taking the online route to fulfill their shopping needs, e-tailers like Amazon and Flipkart are witnessing high demands, including from far-flung and remote areas, but overall slowdown and negative sentiments – coupled with the new ecommerce policy and the likely entry of Reliance into the ecommerce space soon […]

Hong Kong economy to shrink in fourth quarter

Hong Kong:Hong Kong’s economy is set to contract in the fourth quarter as the city reels from six months of violent social unrest, the financial chief said Sunday. “Based on the situation of these few months, it is inevitable that negative growth will continue,” Financial Secretary Paul Chan said in a blog post. “This means […]

Global economy limps on to 2020 after trade bruising

Dubai: The global economy is stumbling into 2020 after a battering from trade tensions and a manufacturing recession that dragged growth to the weakest in a decade. Most major economies underperformed this year versus forecasts, perhaps no surprise given the uncertainty from the US-China trade war that weighed on investment, as well as a drag […]

Dh196-billion Dubai budget from 2020 to 2022 approved

Dubai: In his capacity as the Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, has approved a three-year budget cycle for the Government of Dubai, for the 2020-2022 period. The three-year budget cycle meets the aspirations of Dubai’s future. It also confirms its determination […]

How one Philippine billionaire built a crocodile empire

William Belo, whose Wilcon Depot Inc. dominates the Philippines home-improvement market with 57 stores nationwide, was already on the path to becoming a business success when he decided to try his hand at something different. He started an egg farm in 1989 as a weekend activity. Then he needed to figure out how to handle […]